Choosing how to choose

Decision theories give guidance about what to do when you face a particular decision. But they also give higher-level advice-depending on how likely you think it is that you'll face various decision problems, decision theories give advice about the best strategy for picking what to do. For some ways of being uncertain over possible decisions, decision theories that accommodate risk undermine themselves. They simultaneously provide specific advice about what to pick whilst also deeming that very picking strategy to be impermissible. Savage-style expected utility theory does not have this flaw; it always deems its own picking strategies to be the rational ones. Popular decision rules for imprecise probabilities never straightforwardly undermine themselves but they often require adopting strategies that pick in accordance with expected utility theory, thereby coordinating how to pick across different potential decision problems. Some strategies that always pick an option that the decision theory does not reject are deemed impermissible. In particular, randomising amongst non-rejected options is often impermissible. This raises questions about how to use the guidance of an imprecise decision theory when it leaves different options non-rejected.

The online version contains supplementary material available at https://doi.org/10.1007/s11238-025-10088-2.